First Extension Amendment Clause Samples
First Extension Amendment. If Tenant is entitled to and properly exercises its First Extension Option, Landlord shall prepare an amendment (the "FIRST EXTENSION AMENDMENT") to reflect changes in the Base Rent, Term, Termination Date and other appropriate terms. The First Extension Amendment shall be sent to Tenant within a reasonable time after Landlord's receipt of the First Binding Notice or other written agreement by Landlord and Tenant regarding the Prevailing Market rate, and Tenant shall execute and return the First Extension Amendment to Landlord within 15 days after Tenant's receipt of same, but, upon final determination of the Prevailing Market rate applicable during the First Extension Term as described herein, an otherwise valid exercise of the First Extension Option shall be fully effective whether or not the First Extension Amendment is executed.
First Extension Amendment. If Tenant is entitled to and properly exercises its First Extension Option, and if the Prevailing Market rate for the First Extension Term is determined in accordance with Section 5.3 above, Landlord, within a reasonable time thereafter, shall prepare and deliver to Tenant an amendment (the “First Extension Amendment”) reflecting changes in the Base Rent, the Term, the expiration date of the Lease, and other appropriate terms in accordance with this Section 5, and Tenant shall execute and return (or provide Landlord with reasonable objections to) the First Extension Amendment within 15 days after receiving it. Notwithstanding the foregoing, upon determination of the Prevailing Market rate for the First Extension Term in accordance with Section 5.3 above, an otherwise valid exercise of the First Extension Option shall be fully effective whether or not the First Extension Amendment is executed.